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magellan health inc (MGLN) Details

Magellan Health, Inc. provides healthcare management services in the United States. The company operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine. It also contracts with state Medicaid agencies, and the centers for Medicare and Medicaid services to manage care for beneficiaries under Medicaid and Medicare programs, such as healthcare and long-term support services through its network of medical and behavioral health professionals, clinics, hospitals, nursing facilities, home care agencies, and ancillary service providers. The Pharmacy Management segment comprises products and solutions that provide clinical and financial management of pharmaceuticals paid under medical and pharmacy benefit programs. It offers pharmacy benefit management services, such as pharmaceutical dispensing services; pharmacy benefit administration for state Medicaid and other government sponsored programs; clinical and formulary management programs; medical pharmacy management programs; and programs for the integrated management of specialty drugs that treat complex conditions. The company provides services to health plans and other managed care organizations, employers, labor unions, various military and governmental agencies, and third party administrators. Magellan Health, Inc. was founded in 1969 and is headquartered in Scottsdale, Arizona.

Magellan Health, Inc. announced that it provided earnings guidance for 2019. For the period, the company expects net revenue to be $7,000 million to $7,200 million. Net income to be $52.0 million to $79.0 million. Earnings per share to be $2.14 to $3.25.

Magellan Health, Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced total revenue was USD 1,739.489 million compared to USD 1,805.077 million a year ago. Net income was USD 431,000 compared to USD 11.452 million a year ago. Basic earnings per share was USD 0.02 compared to USD 0.47 a year ago. Diluted earnings per share was USD 0.02 compared to USD 0.45 a year ago.

Magellan Health, Inc. Announces the Retirement of Board of Directors

Apr 23 19

On April 22, 2019, Matthew Simas and Eran Broshy notified Magellan Health, Inc. that they will retire from the company’s board of directors effective at the company’s upcoming 2019 Annual Meeting of Shareholders and therefore will not stand for re-election. Additionally, on April 22, 2019, John Agwunobi, whose term expires in 2020, notified the Company that he will retire from board of directors effective at the 2019 Annual Meeting and therefore he will resign effective as of that time. The decision by Messrs. Simas, Broshy and Agwunobi not to stand for re-election or to resign, as the case may be, was not because of a disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

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